Three things you need to know as the UK financial markets open, from Tony Cross.
#1. Hollywood Bowl strikes out with strong FY performance
There’s a full year trading update out from Hollywood Bowl LON:BOWL this morning noting record revenues and the company now expects to report EBITDA at levels ahead of market expectations above £65m. With a strong pipeline of new activity remaining in place, the outlook remains upbeat and most notably this sends a message regarding discretionary consumer spending, too.
#2. Profit upgrade at Cerillion
AIM-listed Cerillion LON:CER, the billing and CRM software provider, has also published a full year trading update, with revenues set to be around 10% higher and adjusted pre-tax profits ahead of the consensus market forecast of £17.9m. Total new orders signed for the year were significantly greater than had been seen historically. Management add that the Company has entered the new financial year with a robust back-order book including some large opportunities and growth prospects remain positive.
#3. Energypathways invited to join government scheme
Energypathways [LON:EPP] advised this morning that it has been invited by the UK Government’s Department of Energy Security and Net Zero to participate in its Hydrogen Storage Business Model design group. Through its involvement in the Group, Energypathways will contribute to the shape of the commercial and regulatory design of the Hydrogen Storage Business Model that will be used in the First Hydrogen Storage Allocation Round to be launched in 2025. Certainly a meaningful project to be part of and one that should move far within the current government.
